The mutual fund investments have emerged as important players in the Indian equity market in the recent past. This research makes an attempt to understand whether a relationship exists between Mutual Fund investment and Equity Market returns in India. The past ten years of data was analyzed with appropriate statistical tools to prove the impact of Mutual Fund Investments in Indian Equity Market. Markets become more efficient with the growing presence of institutional investors who predominantly go by fundamentals. The popular belief that fund inflows and returns are positively related. ( Warther, 1995) is also proved.
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